Employment in Hungarian Economy as a Result of the Covid-19 Pandemic

Tóth, Arnold and Kálmán, Botond Géza and Poór, József (2021) Employment in Hungarian Economy as a Result of the Covid-19 Pandemic. ACTA OECONOMICA UNIVERSITATIS SELYE, 10 (1). pp. 84-96. ISSN 1338-6581

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Abstract

By the summer of 2020, the COVID-19 epidemic that originated from China became a global pandemic. The restrictive measures that were put in place for protection also affected the economy, which during the first wave of the pandemic came to a halt in almost every country. This paper examines the effect of the pandemic on Hungarian employment rates based on data by Eurostat, in different sectors of the economy and by using the EU-27 average as reference. In addition to complete employment data, we also focused on employees and those who are self-employed. To measure the effects of COVID-19, we contrasted data from the previous three years to data from the first and second quarter of 2020. Our results confirm that the pandemic caused a significant decrease in general employment indexes but did not equally affect the various branches of the economy.

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